Greece And Future Bailouts

During the weekend a rescue package of $61 billions was put together with support of the IMF. What can we now expect? It seems that risk of default of Greek banks remains high and even some reactions to the rescue package for the sovereign debt are tepid at best. Stock markets are not reacting much on the news, however the Euro gained on the US dollar almost 1% close to 1.36. This is the reaction I frankly do not understand well. What is Europe going to do when other countries find themselves in a similar situation? What if Spain and Portugal this summer have similar problems? What about Ireland and Italy? Is giving a bailout ging to be the solution to all problems or rather a means to delay critical decisions and the bitter medicine for many European countries and economies?
I believe that Europe in general is weaker after this decision rather than stronger. I think the Euro is weaker now than before. But the market is reacting differently....at least for now.